TreeHouse Foods

In 2005, Dean Specialty Foods was spun off from Dean Foods as Bay Valley Foods, LLC, a division of TreeHouse Foods, Inc. In June of that year, TreeHouse Foods started trading on the New York Stock Exchange with a ticker of THS.Michelle Obama was a member of the board of directors from 2005 through 2007.

Acquisitions and subsidiaries

2006: Acquired the soup business of Del Monte Foods Company.

2007: Acquired the salsa and picante business of San Antonio Farms, acquired jam, jelly, syrup and pie-filling producer E.D. Smith, founded by the Canadian politician E.D. Smith

2010: Acquired Sturm Foods and S.T. Specialty Foods

2013: Acquired Naturally Fresh, Inc., Cains Foods, and Associated Brands

2014: Made a bid to acquire Michael Foods Group IncIn April 2014, TreeHouse acquired private-label soup and gravy maker Protenergy Natural Foods from Whitecastle Investments.

In June 2014, TreeHouse announced that it was buying Minnesota-based Flagstone Foods for $860 million as a way to gain access to the growing healthy snacks category. The company said the acquisition would push its annual turnover towards $3.5 billion.2016: Acquired Ralcorp, the ConAgra Foods private-brand business division, for $2.7B.

2020: Acquired majority of Ebro's Riviana Foods U.S. branded pasta business for $242.5 million in cash. The acquisition included the following regional pasta brands: Skinner, No Yolks, American Beauty, Creamette, San Giorgio, Prince and Light 'n Fluffy, Mrs. Weiss', New Mill, P&R Procino-Rossi and Wacky Mac, as well as the St. Louis manufacturing facility, which employs approximately 90 people.

Sturm Foods

Sturm Foods is a subsidiary company that manufactures dry groceries under private label brands and distributes them to the foodservice industry and grocery suppliers throughout the world. Sturm Foods' origin was a dairy farm operation begun in 1905 by Arthur Sturm and his four sons. The boys began buying eggs from local farmers and shipping them to relatives in Chicago for sale there. This small business eventually expanded into other commodities during the 1930s, such as sugar, seed, twine, potatoes, flour, coal and gasoline. World War II helped increase the business, at that point known as A. Sturm & Sons. The company began manufacturing for the first time bulk amounts of dried food products, such as eggs and powdered milk, to be delivered to American servicemen on the battle fronts. The company entered the private label distribution market in the early 1970s and continues this business model to the current day. The business flourished throughout the eighties and nineties with a broadening product line and employment increasing from 150 to 500 employees. In May 2005, Sturm Foods was acquired by the LLC and private equity firm HM Capital Partners.

On December 1, 2009, HM Capital announced that Sturm Foods was sold to Treehouse Foods for approximately $660 million. The purchase price was made up of $400m in new debt issuance, $100m in equity stock, with the remainder funded by TreeHouse's existing revolving credit facility. With this purchase, the US soup-to-salad dressings firm made a move to further expand its dry grocery offerings. For the 12 months leading to September 30, 2009, Sturm generated sales of $340m. Following the acquisition, TreeHouse has estimated that it will have pro-forma sales of around $1.9bn and adjusted EBITDA of over $275m. The company also expects the transaction to be more than 16% accretive on an annualised basis following the acquisition, adding $0.38 to $0.40 in earnings per share.